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MetLife Deemed Systemically Important By Regulators

The Financial Stability Oversight Council has issued a final determination that MetLife Inc. is a systemically important financial institution, which will force the insurer to meet higher prudential standards and subject it to Federal Reserve oversight, the company said Thursday.

  • Target Data Breach Suit Left Largely Intact

    A Minnesota federal judge on Thursday left largely intact a consolidated consumer class action filed against Target Corp. over its infamous 2013 holiday data breach, dismissing a few state and other claims but allowing the plaintiffs to continue with the majority of the suit.

  • RBC Pays $35M To End CFTC's Wash Trading Case

    Royal Bank of Canada has struck a $35 million deal with the Commodity Futures Trading Commission to settle charges that its extensive “wash trading” on a Chicago futures exchange — an effort to reap tax breaks — was noncompetitive and illegal.

  • Howrey Trustee Settles With 7 Former Partners

    The bankruptcy trustee for failed law firm Howrey LLP has reached deals to claw back money from seven former partners of the firm who founded Belgian IP boutique Hoyng Monegier LLP.

  • Steptoe Hit With $129M Calif. Legal Malpractice Suit

    Steptoe & Johnson LLP and a one-time partner of the firm were hit with a $129 million legal malpractice suit Tuesday in California state court, in which they are accused of failing to properly advocate for developers in a fight to secure big claims against a bankrupt mutual fund executive.

  • Simpson Thacher Guides $2.9B Apax Orange Exit

    Apax Partners LP said on Thursday that it would sell Swiss mobile phone group Orange Communications SA for 2.8 billion Swiss franc ($2.86 billion) — a 40 percent premium to what the U.S. private equity shop paid for the company just three years ago — in a deal shaped by Simpson Thacher & Bartlett LLP.